Plunging interest rates (and Yellen’s little scheme from mid-March) have been the gasoline powering this rally. It is therefore important to watch for any kind of inflection point. The TBT (ultra-short fund based on bonds) is getting close to a crucial price gap, which in my estimation could be such a pivot point.(more…)
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Below is a chart of Alphabet (symbol GOOGL) which has a rather interesting analog with what it was doing two years ago. Both now, and then, the stock had broken a trendline (drawn in each case in red, and which are roughly parallel with one another) and had bounced to the underside, only to be followed by a lot more weakness. GOOGL is, as you know, one of the Mag-7 stocks, and if this weakens, it will poison the entire equity market.
The array of “green” superstars from 2021 which, even in this totally bogus, bull-gasmic environment, are getting destroyed and seem to be plunging toward bankruptcy, is eye-popping:
Here is an engaging and educational discussion with a well-known historian:
One of my bearish positions is Netflix (NFLX) against which I own $485 March 15th 2024 puts. I intend to stick with this as long as it does not surpass the dashed line I’ve drawn at the price level of $485.